On Wednesday, the US Federal Reserve will decide on its latest interest rate and release its latest economic projections. Similar to the BoE, markets are expecting a 25bp rate hike from the Fed.
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European Central Bank President, Lagarde, will speak on Tuesday at the Bank of International Settlement Innovation Summit. Lagarde is scheduled to participate in a panel discussion titled “CBDCs: Keeping momentum in uncertain times”.
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In its February meeting, the Bank of England‘s monetary policy committee voted by a majority of 7-2 to hike interest rates by 50bps to 4%. This pushed the UK’s borrowing costs to their highest in over a decade.
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The pound enters the week stronger against the euro and US dollar compared to this time last Monday, with gains of approximately 1.35% and 0.77% respectively.
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Ending last week on a high against the euro and US dollar, sterling starts the week holding its own. Sadly, this is more than can be said for England rugby, who lost against Ireland on Saturday in a…
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Following a sour open on Thursday, Wall Street recovered with the Dow Jones erasing an over 200-point decline which pushed the stock into positive territory for a moment.
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The European Central Bank raised interest rate by 50 bps on Wednesday, meeting economists’ expectations. The rate is currently at 3.5% but remains higher than the ECB’s target rate of 2%.
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The pound remains strong against its euro and US dollar rivals despite the widespread impact of the banking turmoil in the US and Eurozone. Many now look ahead to next week for the UK's inflation rate.
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